Core Insights - Urban Edge (NYSE: UE) has been highlighted for its quality properties located in densely populated regions and its effective asset recycling strategy, which has contributed to decent returns for investors since the last coverage in January 2024 [2]. Group 1: Company Overview - Urban Edge focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging opportunities [1]. - The company has a beneficial long position in its shares, indicating confidence in its future performance [3]. Group 2: Investment Strategy - The investment approach emphasizes defensive stocks with a medium- to long-term horizon, aligning with the current market conditions [2].

Core Viewpoint - Urano Energy Corp. has completed an initial review of historical uranium reserve and resource estimates for its Bachelor, Dulaney, and La Sal Creek projects in Colorado, which are part of a larger acquisition of uranium assets [1][3]. Summary by Relevant Sections Company Developments - The company has identified nearly 477 thousand pounds of historical uranium reserves ("U3O8") across the three properties, contributing to a total of approximately 714 thousand pounds of historical uranium reserves in its inventory [3][5]. - Urano Energy expects its historical uranium mineral reserve inventory to increase significantly in the coming months as further analysis of its database continues [3][14]. Property Details - The Bachelor, Dulaney, and La Sal Creek properties are located in the Uravan Mineral Belt and La Sal Creek District, covering a total of 20 lode mining claims across 425 acres (1.72 square kilometers) [4][5]. - The properties have a history of production and contain historical estimates of uranium-vanadium reserves and resources [1][5]. Historical Estimates - The historical estimated uranium and vanadium reserves and resources for the three properties include: - Bachelor: 104,528 lbs. of U3O8 and 132,457 lbs. of V2O5 - Dulaney: 193,412 lbs. of U3O8 and 15,102 lbs. of V2O5 - La Sal Creek: 179,170 lbs. of U3O8 and 60,288 lbs. of V2O5 [7][8]. - The total historical estimates for the three properties amount to 477,110 lbs. of U3O8 and 207,847 lbs. of V2O5 [7]. Future Potential - The company has identified additional drill targets with high potential for new discoveries, which could further enhance its uranium inventory [3][15]. - Urano Energy plans to prioritize the completion of NI 43-101 Technical Reports for its properties to convert historical estimates into current mineral resources [13][14]. Industry Context - The Uravan Mineral Belt has a rich history of uranium and vanadium production, with over 80 million pounds of uranium and 400 million pounds of vanadium produced since 1945 [16][17]. - The region remains a key area for uranium exploration, driven by increasing global demand for uranium [17].

Financial Data and Key Metrics Changes - FFO as adjusted increased by 8% for the year to $1.35 per share, achieving three-year earnings target one year ahead of plan [7] - Same-property portfolio occupancy grew to 96.6%, with a signed but not open pipeline expected to generate $25 million of future annual gross rent, representing 9% of NOI [8][12] - FFO as adjusted for Q4 was reported at $0.34 per share, contributing to the full year figure of $1.35 per share [26] Business Line Data and Key Metrics Changes - In 2024, the company executed a record 79 new leases totaling 485,000 square feet, with a same-space cash rent spread of 26% [7][17] - The overall leasing volume for 2024 was strong, with new leases and renewals achieving spreads of 26% and 9% respectively [18] - The company completed $30 million of redevelopment projects expected to generate a 16% unlevered return [10] Market Data and Key Metrics Changes - Foot traffic increased by 3% over the previous year at grocery-anchored centers, with retail occupancy in the Northeast at a 10-year high of 95% [20] - New shopping center construction is at a near-record low, only 0.2% of total supply [20] - The company noted that tenant bankruptcies present more opportunities than risks, with identified replacement tenants at spreads up to 90% [21] Company Strategy and Development Direction - The company aims for FFO as adjusted growth of 4% or better in 2025, with same-property NOI growth of at least 3.5% [13] - The company is focused on capital recycling, acquiring higher-growth assets while disposing of lower-growth ones [42] - The company plans to continue enhancing portfolio quality through disciplined capital allocation and operational excellence [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth plans for the next decade, emphasizing the importance of improving shopping centers in urban communities [12] - The company anticipates gradual growth in NOI and FFO throughout 2025 as new rents commence [30] - Management highlighted the strong balance sheet with over $800 million in total liquidity and a favorable debt maturity profile [27] Other Important Information - The company announced a 12% increase in its dividend to an annualized rate of $0.76 per share [34] - The company has a strong in-place pipeline of $163 million at a 15% return, nearly all tied to executed leases [22] Q&A Session Summary Question: Visibility on same-store NOI and bad debt - Management provided details on the bad debt provision, indicating 70 basis points related to bankrupt tenants and 40 basis points as a general reserve [38] Question: Commentary on acquisition pipeline - Management noted an increase in available products but highlighted challenges in making deals pencil due to competitive cap rates [40][42] Question: Demand for specific assets and cap rates - Management indicated that cap rates for single-tenant assets are expected to be in the 5% range, while larger stable power centers may be around 6% [48] Question: Status of redevelopment projects - Management expressed excitement about progress at Sunrise Mall and the potential for various uses beyond retail [52][66] Question: G&A cost management - Management discussed efforts to streamline processes and reduce costs through headcount allocation and third-party spending [61][63]

Development and Redevelopment Projects - As of December 31, 2024, the company had $162.6 million in active development, redevelopment, and anchor repositioning projects, with an expected unleveraged yield of approximately 15%[41] - The company is focused on urban markets with high population density and strong consumer demand, seeking to create value through redevelopment opportunities[40] Revenue and Tenant Information - The largest tenant, TJX Companies, accounted for approximately $22.3 million, or 5.0%, of total revenue for the year ended December 31, 2024[55] - The company has a diverse tenant base, including department stores, grocers, and restaurants, with a focus on spaces with below-market leases[49] Capital Deployment and Financial Strategy - The company plans to selectively deploy capital through acquisitions in target markets that meet criteria for risk-adjusted returns while selling assets that no longer meet return requirements[42] - The company maintains a flexible balance sheet to support growth and expects increasing levels of cash flow from internally generated funds[44] - The company has $800 million in borrowing capacity under its revolving credit agreement, which supports its growth strategy[44] Asset Management and Corporate Responsibility - The company aims to maximize the value of existing properties through proactive management, including continuous asset evaluation and targeted leasing to desirable credit tenants[40] - The company is committed to corporate responsibility, engaging in environmentally and socially responsible practices while driving financial performance[45] Debt and Interest Rate Management - As of December 31, 2024, the company had variable rate debt outstanding of $100.9 million with a weighted average interest rate of 5.36%[247] - The company's fixed rate debt amounted to $1.53 billion with a weighted average interest rate of 5.02% as of December 31, 2024[247] - A 1% increase in the weighted average interest rate of fixed rate debt would result in an annualized interest expense increase of approximately $15.3 million[247] - The estimated fair value of the company's consolidated debt was $1.5 billion as of December 31, 2024[248] - The company utilizes various financial instruments to mitigate the impact of interest rate fluctuations, including hedging strategies[247] - The company was a counterparty to two interest rate derivative agreements designated as cash flow hedges as of December 31, 2024[247] - The company’s variable rate mortgage on Plaza at Woodbridge is hedged with an interest rate cap limiting SOFR to a maximum of 3.0%[247] Risk Management - The company had no material exposure to foreign currency exchange risk or commodity price risk as of December 31, 2024[249] Taxation and Foreign Investment - The withholding rules under FIRPTA apply to distributions paid by the company in excess of a non-U.S. shareholder's adjusted basis in its stock[246] - A qualified foreign pension fund must satisfy specific tests to be considered a qualified holder for U.S. real property interests[62]

Exhibit 99.2 SUPPLEMENTAL DISCLOSURE PACKAGE December 31, 2024 Urban Edge Properties 12 East 49 Street, New York, NY 10017 NY Office: 212-956-0082 www.uedge.com th URBAN EDGE PROPERTIES SUPPLEMENTAL DISCLOSURE December 31, 2024 (unaudited) TABLE OF CONTENTS | | Page | | --- | --- | | Press Release | | | Fourth Quarter 2024 Earnings Press Release | 1 | | Overview | | | Summary Financial Results and Ratios | 12 | | Consolidated Financial Statements | | | Consolidated Balance Sheets | 13 | | Consolidated State ...

CSE: UEOTCQB: UECXFwww.uranoenergy.comVANCOUVER, BC, Dec. 17, 2024 /PRNewswire/ - Urano Energy Corp, (CSE: UE) (OTCQB: UECXF) (the "Company" or "Urano") announced today the appointment of Mr. Kyle Kimmerle as Director, effective December 12, 2024.Kyle Kimmerle, DirectorKyle Kimmerle has a deep understanding of underground and surface mining having been a miner for many years.  He comes from a family with deep roots in the mining industry of Southeastern Utah. His family has been involved in the region's min ...

CSE: UEOTCQB: UECXFwww.uranoenergy.comVANCOUVER, BC, Dec. 5, 2024 /PRNewswire/ - Urano Energy Corp. (CSE: UE) (OTCQB: UECXF) (the "Company" or "Urano Energy") announced today that it has completed the acquisition of fifteen uranium properties (the "Properties") as previously announced (UE News Release dated Nov 27, 2024). The properties, with a total of 345 claims covering 8,200 acres, or 33 square kilometers, are situated within the Colorado Plateau geological region within the states of Utah and Colorado. ...

CSE: UEOTCQB: UECXFwww.uranoenergy.comVANCOUVER, BC, Nov. 27, 2024 /PRNewswire/ - Urano Energy Corp, (CSE: UE) (OTCQB: UECXF) (the "Company" or "Urano Energy") announced today that it has entered into purchase agreements to acquire mineral claims and mining leases located in Utah and Colorado, covering various uranium properties that are prospective for uranium mining in consideration for an aggregate of US$5,865,000 in cash and US$4,800,000 in shares of the Company, payable in installments over five years. ...

Full time trader and investor. Instead of lengthy and boring articles, I prefer writing concise arguments about value stocks. My goal is to identify great entry levels. Prices that you can remember years later and say "it was a great time to buy". My focus is on quality US large caps but may invest in mid caps occasionally. Dividends are good, but capital appreciation matters. Finding a balance between both is an art. I like to apply famous Warren Buffet principles. Investing is simple but not easy. Unlike ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ Commission File Number: 001-36523 (Urban Edge Properties) Commission File Number: 333-212951-01 (Urban Edge Properties LP) URBAN EDGE PROPERT ...